Sensex and Nifty
Amidst a highly volatile market, both the Nifty and Sensex closed higher today, led by private sector banks and metal stocks, but a fall in pharma stocks capped the gains.
The Sensex index ended at 77,478 and the Nifty index ended at 23,567.
Today’s winners and losers:
JSW Steel, Tata Steel, ICICI Bank, Reliance Industries and Kotak Mahindra Bank were the top gainers on the Sensex index, rising by over 1 per cent each. Top losers were Sun Pharma, M&M, NTPC, SBI and Wipro.
Performance by sector:
The Nifty Pharma index fell 0.5%. Major Sun Pharma closed down 2.2% after its Dadra plant received a warning letter from the US drug regulator. Sun Pharma was the biggest loser in the Sensex index.
The Private Bank Index rose 1.16 percent after Macquarie said it favored private banks due to their stable asset quality outlook and attractive valuations.
The Nifty Metals Index rose 1.8 percent as sentiment improved after China, the largest consumer, reiterated its commitment to a supportive monetary policy.
The Nifty Realty index also ended 2 per cent higher thanks to strong performances from Prestige, Lodha and Oberoi Realty.
Global Market
Global stocks hovered near record highs on Thursday, mainly due to investor confidence in the prospect of lower U.S. interest rates this year.
The MSCI all-world index was flat at 805.19. U.S. markets were closed for a holiday.
Crude Oil and Rupee
Brent crude futures were steady on Thursday, hovering just below seven-week highs as markets awaited U.S. inventory data.
August Brent Crude futures are at $85.39 per barrel. July US WTI futures are at $81.32.
The Indian rupee fell to its lowest level ever, closing at 83.6525 rupees.
